Since the beginning of 2016, the European Commission (EC) has started four anti-dumping cases to investigate imports of hot rolled coil (HRC), hot dipped galvanized coil (HDG) and heavy steel plate, and has settled a definitive duty on imported cold rolled coil (CRC).
These trade defence measures are expected to have a positive effect on domestic prices for these materials in 2017, especially with further support created by high raw material costs.
In the second half of 2016, raw material prices skyrocketed, driven by a spike in coking coal costs.
Metal Bulletin’s hard coking coal index rose by $146.17 per tonne to $239.03 per tonne cfr Jingtang on December 19, from $92.86 per tonne cfr on July 1. Also on December 19, Metal Bulletin’s 62% Fe iron ore index reached $81.22 per tonne delivered to China, normalised to Qingdao, up by 26.89% from July 1.